Withdraw from IRA and delay Social Security?

[MI-Roger]

I realized much later that my reply to your post may have not been viewed as friendly. I apologize for this.

In truth, your plan to draw down your Tax Deferred investment balances prior to collecting Social Security and prior to mandatory RMD's is identical to the plan I expressed to our Financial Planner. It still makes a lot of sense to me.

What I learned was that this scenario should be investigated by everyone with substantial Tax Deferred account balances to determine if it is the best option for them. Additionally, other scenarios should be analyzed as well.

I also learned there is no single best time to start collecting SS when retiring early, that everyone's optimal timing and method is unique to their own personal situation.

[garyt]

Quote:

Originally Posted by ncbill Yes, "grandfathering" is a ridiculous assumption. If benefits are reduced, it will be across-the-board, same as with the other SS changes that have happened over the last few decades.

How do you figure? When they raised FRA rates from 65 awhile back they certainly grandfathered in people of a certain birth year.

[joeea]

Quote:

Originally Posted by garyt How do you figure? When they raised FRA rates from 65 awhile back they certainly grandfathered in people of a certain birth year.

The rules as written require an across-the-board cut for everyone.

The rules can always be changed. If they will and how, is anyone's guess.